General Electric’s GE Capital Financing Arm Asks US Government To Lift Its 'Too Big To Fail' Label

General Electric Co's GE Capital financing arm on Thursday asked the U.S. government to stop designating it as a "systemically important financial institution," a label given to companies considered "too big to fail."

GE Capital Chief Executive Officer Keith Sherin said in a statement that the unit had shrunk to the point where it no longer meets the criteria for the designation, which can trigger possible requirements for stricter oversight and holding more capital.